Lignol Energy Corporation (TSX: LEC) (formerly Santa Cruz Ventures Inc.) commenced trading after completing the acquisition of Lignol Innovations Corporation, and a private placement of $5 million.
The Company has acquired and modified a solvent based pre-treatment technology originally developed by a subsidiary of General Electric. This technology was applied in the pulp industry by Repap Enterprises Inc., at a cost of over $100 million. Lignol acquired this technology, plant data and related engineering together with the original GE pilot plant that is now being integrated with recently developed process capabilities to convert cellulose to ethanol.
The financing will fund the completion of Lignol’s pre-commercial work plan and be used to acquire equity ownership in energy-related projects that have synergies with Lignol’s biorefining technology and corporate mission. With the support of Sustainable Development Technology Canada and specific interested corporations, the pre-commercial work plan should deliver a technical design for a commercial biorefining plant capable of producing fuel grade ethanol and a variety of biochemical co-products from hardwood, softwood and a variety of agricultural residues.
About Lignol Energy Corporation
A western Canadian company, Lignol’s mission is to build biorefineries for the production of fuel-grade ethanol and biochemical co-products produced from cellulosic material sourced from Canadian forests and biomass. The technology facilitates the rapid, high-yield conversion of cellulose to ethanol. Plant economics are expected to be enhanced with revenues through value-added biochemical co-products.
Loading...